QUESTION 4 A minimum mileage guarantee on the tires of a tire manufacturing company is being considered to be set. When the company conducted many tire tests, it revealed that the mean mileage has a...

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Extracted text: QUESTION 4 A minimum mileage guarantee on the tires of a tire manufacturing company is being considered to be set. When the company conducted many tire tests, it revealed that the mean mileage has a normal distribution with mean 3,115 and standard deviation 77. The tire manufacturer wants to set the minimum guaranteed mileage so that no more than 2.5 percent of tires will have to be exchanged. Calculate the Lower limit of guaranteed mileage? (Round answer to two decimal places ex. 2.09)